re: blueballs
Yes Blueballs I understand the odds and having them in your favor. On the subject of odds, what you talk about is the basics of TA and money management of trading offered in most texts, yet I believe 95%+ traders lose money. Perhaps we like to think the odds are in our favor? And who are we to say others cant be successful using a different method than the one where only the best of the best succeed? Fortunately we are buying stocks and not betting at the races. You see LUM doesn’t have to win the race, they only need to create a profitable business. You cant deny if they do that then $2.50 may be cheap, hence 500%. Other stocks may move 2000% in the same time frame and win the race. How many horses can win a race? (one) how many business can be successful? (unlimited). Lets look at the top 200 rich list, I don’t know of one trader in that lot. Most have made the bulk of their wealth by ignoring a chart and investing in someone else’s or their own business. How could they do that? Surely at some stage these stocks must have been in downtrend? The answer is in the reward ratio, 1 successful business could easily pay for 100 failed businesses. Very few successful business people were so on their first attempts, they knew that’s odds were against them. So why play the game? Again they understand risk/ reward and have a plan. For the record I use TA, money management and trade to my plan successfully and profitably. But how can we honestly tell people to buy or not to buy on our plan when odds show most fail at trading TA? Yes I certainly understand your point and believe its with the best intentions.
LUM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
